Thursday, Aug 04,
Coal India Ltd has reported 5.5 per cent higher off-take of coal to 142 million tonnes during the April-July 2011 period compared with the corresponding period in the previous year. The higher availability was ensured by liquidating the pit-head stock and despite a low production.
In a press release issued on Wednesday, the coal major reported liquidation of approximately 14.5 MT of its opening stock of a little over 69 mt as on April 1 this year. The pit-head stock was accumulated due to historic mismatch between production growth and off-take.
With its production growth comes to a standstill since last year, CIL decided to utilize the opportunity to liquidate this abnormally high coal inventory, amounting to approximately 16 per cent of last year’s production.
Source: The Business Line
Leave a Reply